The pressure of getting your pitch perfected can be quite overwhelming for any business, whether you are just starting up or looking to scale. The challenge of making sure you include all of the right figures, expressing your idea with the right tone and even having open body language when speaking, is nerve-wracking, to say the least.
But, by knowing your audience, crafting a richly detailed pitch and delivering it with confidence, you are sure to be successful.
Here are six top tips to make sure you get your pitch perfected.
1. Tell a story
When pitching your product or service, you need to tell an authentic story.
Include what the problem is that your product is solving, how your idea became the solution and address the market concern. What is unique about your product or service and why is your solution better than other industry competitors if you have examples.
There’s no need to overcomplicate the story, or use industry jargon that could derail your flow. Just make sure it is clear and relatable to capture the audience’s attention.
2. It’s all in the detail
For a strong pitch, you need to make sure you know everything about your product or service and show it.
Be specific and give examples to show the investor that you are fully committed. There should be nothing that you don’t know. This also prepares you for questions at the end, should the investors want to know more.
3. Don’t be afraid to talk more
You are pitching to sell your idea to gain funding and support, so don’t be shy about revenue and investment figures.
Be honest about your revenue and the money flow that you may have had previously, investors will appreciate you being open and straight to the point. For example, if you had a period where you didn’t quite hit your margins, tell them why and how you overcame it or why you need help in this area. This shows that you are acknowledging your past and want to look towards the future and know what you need to do next.
Investment figures are also key. When telling the investor how much funding you are looking for, tell them how this will be used, the theory behind it and ultimately how this will push profit. They will want to know that investing in you and your brand will be beneficial and make more money.
4. Target market and research
Part of knowing your business idea is knowing who you are selling to. Market research is a great way to show that you have taken the time to find out how to provide a positive customer experience, what customers want and how you have made sure your product or service ticks all of the boxes.
You can also use this to present customer feedback if you have any, plus highlight why your product will do well against potential competitors.
5. The people behind the brand
As well as the actual product or service, speak about the people behind it. Underline how the team behind you are key to the success of your business and why. If investors know you have a strongly motivated team who are willing to work hard to make your business a success, they will be more inclined to invest. Show that you all care about providing your product.
6. Believe in your business
An investor is not going to be blown away by your business if you aren’t. Be confident in your business idea and show you are excited by the development and journey you have been on to have perfected your product or service design.
Even by acknowledging that you have overcome barriers, you can show you know where you want to go with your business and how to do it. Confidence shines through with a balanced tone, open body language and a good attitude.
Be honest and realistic, but most importantly, positive to radiate good energy.
By incorporating all of these points, you should be successful in your pitch. A great pitch goes a long way and could be the first step in securing the future you envision for your business.
Need more help developing your initial identity, come along to our free webinar at our Purposeful Weekender, ‘How to build a personal brand’ on the 22nd September at 6:30pm - https://www.eventbrite.co.uk/e/the-purposeful-weekender-how-to-build-your-personal-brand-tickets-168085511289